Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Taxes

Summary of Income (Loss) Before Taxes

	U.S.		Foreign
Year ended December 31, 2014	Operations		Operations		Total
	(in thousands)
2014	$	170,517		16,921		187,438
2013	$	127,682	$	11,933	$	139,615
2012	$	(271,683)	$	3,841	$	(267,842)

(Benefit) Provision for Income Taxes

	Year ended December 31,
	2014		2013		2012
	(in thousands)
Current expense:
Federal	$	45,074	$	29,034	$	19,573
State		11,174		9,018		3,508
Foreign		3,203		4,256		1,542
Total current		59,451		42,308		24,623
Deferred (benefit) expense:
Federal		9,992		9,547		(28,157)
State		10,059		577		1,104
Foreign		—		(113)		(12)
Total deferred		20,051		10,011		(27,065)
Total (benefit) provision	$	79,502	$	52,319	$	(2,442)

Reconciliation of Provision (Benefit) for Income Taxes

	2014				2013				2012
	Amount		Rate		Amount		Rate		Amount		Rate
	(dollars in thousands)
Federal income expense (benefit) at statutory tax rate	$	65,603	35.0	%	$	48,865	35.0	%	$	(93,745)	35.0	%
State income taxes, net of federal tax benefit		10,367	5.5			6,236	4.5			3,214	(1.2)
Officers' compensation		3,657	2.0			1,732	1.2			1,473	(0.6)
Domestic Production Activities Deduction		(5,170)	(2.8)			(3,641)	(2.6)			(2,246)	(2.4)
Goodwill Impairment		—	—			—	—			89,191	(33.3)
Impact of state tax rate changes on deferreds		3,245	1.7			—	—			—	—
Other		1,800	1.0			(873)	(0.6)			(329)	3.4
(Benefit) provision for income taxes	$	79,502	42.4	%	$	52,319	37.5	%	$	(2,442)	0.9	%

Significant Components of Deferred Tax Assets and Liabilities

The following is a summary of the significant components of the deferred tax assets and liabilities:

	Year ended December 31,
	2014		2013
	(in thousands)
Deferred Tax Assets
Timing of expense recognition	$	47,017	$	24,170
Net operating losses		2,188		4,123
Other, net		6,980		5,641
Deferred tax assets		56,185		33,934
Valuation Allowance		(1,369)		(2,817)
Net deferred tax assets		54,816		31,117
Deferred Tax Liabilities
Intangible assets, due primarily to purchase accounting		(26,094)		(18,260)
Fixed assets, due primarily to purchase accounting		(90,886)		(79,243)
Construction contract accounting		(6,854)		(6,432)
Joint ventures - construction		(30,654)		(5,229)
Contested Legal Settlement		—		(12,012)
Other		(10,012)		(3,408)
Deferred tax liabilities		(164,500)		(124,584)
Net deferred tax liability	$	(109,684)	$	(93,467)

ThenetdeferredtaxliabilityisclassifiedintheConsolidatedBalanceSheetsbasedon  whenthe  futurebenefit (expense)isexpectedto berealizedas  follows:

	December 31,
	2014		2013
	(in thousands)
Current deferred tax asset	$	17,962	$	8,240
Long-term deferred tax asset		36,854		22,877
Current deferred tax liability		(14,129)		(10,251)
Long-term deferred tax liability		(150,371)		(114,333)
Net deferred tax liability	$	(109,684)	$	(93,467)

Reconciliation of Gross Unrecognized Tax Benefit

Gross unrecognized tax benefit balance at January 1, 2012	$	2,043
Add:
Additions based on tax positions related to current year		1,281
Additions/reductions for tax positions of prior years		1,857
Less:
Reductions for tax positions of prior years (expiration of statute of limitations)		(1,158)
Gross unrecognized tax benefit balance at December 31, 2012	$	4,023
Gross unrecognized tax benefit balance at January 1, 2013	$	4,023
Add:
Additions based on tax positions related to current year		1,254
Additions/reductions for tax positions of prior years		182
Less:
Reductions for tax positions of prior years (expiration of statute of limitations)		—
Gross unrecognized tax benefit balance at December 31, 2013	$	5,459
Gross unrecognized tax benefit balance at January 1, 2014	$	5,459
Add:
Additions based on tax positions related to current year		2,929
Additions/reductions for tax positions of prior years		426
Less:
Reductions for tax positions of prior years (expiration of statute of limitations)		(1,178)
Gross unrecognized tax benefit balance at December 31, 2014	$	7,636